In a major legal escalation in the case against memecoin platform Pump.fun, law firms Burwick Law and Wolf Popper amended their lawsuit, adding high-profile names to the list of defendants. Filed on Wednesday, the lawsuit invokes the Racketeer Influenced and Corrupt Organizations (RICO) Act and includes serious claims such as unauthorized money transmission, wire fraud, illicit gambling, and intellectual property theft.
The amended complaint names Solana Foundation, Solana Labs, Jito Labs, and several high-ranking executives, including Solana Co-founders Anatoly Yakovenko and Raj Gokal. Also listed are Solana Foundation’s Executive Director Dan Albert, President Lily Liu, and former Head of Communications Austin Federa. Jito Labs executives Lucas Bruder (CEO) and Brian Smith (COO) are also defendants, along with Pump.Fun Co-founders Alon Cohen, Dylan Kerler, Noah Bernhard, and Hugo Tweedale.
According to the filing, the defendants are accused of orchestrating a “digital casino”, via the Pump.fun platform, allegedly designed to simulate gambling via memecoin creation and trading. The lawsuit claims this operation violates several U.S. financial laws, including the Bank Secrecy Act, the USA PATRIOT Act (Section 311), and OFAC sanctions regulations.
The plaintiffs argue that Pump.Fun exposed the public to serious criminal risks by operating without appropriate Know Your Customer (KYC) procedures or anti-money laundering (AML) protections. They allege that North Korea’s Lazarus Group laundered proceeds from the $1.5 billion Bybit hack by launching a memecoin called “QinShihuang” through Pump.Fun.
Further, the platform has been accused of facilitating hate-based and trademark-infringing tokens to manipulate attention and trading activity. The lawsuit also alleges Jito Labs exploited its infrastructure by intercepting and redirecting profitable transactions to the highest bidders.
Judge Colleen McMahon recently consolidated this case with an earlier class action filed by PNUT memecoin investors. The lead plaintiffs are Diego Aguilar, Kendall Carnahan, and Michael Okafor.
Pump.fun reportedly earned over $722 million from its operations. Despite attempts to contact the Solana Foundation and Pump’s parent Baton Corporation, no immediate comments were provided. A Jito Labs spokesperson declined to respond.
As litigation unfolds, Pump has retained a high-profile legal team, including crypto attorney Stephen D. Palley and former SEC investigator Daniel L. Sachs, signaling a complex battle ahead.
Also Read: Pump.fun’s PUMP Slides 20% After Co-Founder Delays Airdrop Plans
